Talent Management Software Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities

The Talent Management Software Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Talent Management Software Market?
In recent times, there has been a swift expansion in the size of the talent management software market. Forecasted to rise from $13.05 billion in 2024 to $14.56 billion in 2025, it exhibits a compound annual growth rate (CAGR) of 11.6%. The growth witnessed in the past was due to factors such as vendor innovation and market competition, user-friendly interfaces, a shift towards cloud-based solutions, as well as performance and goal management.

In the coming years, the market size for talent management software is set to experience exponential growth. Market experts forecast an increase to $24.83 billion by 2029, with a compound annual growth rate (CAGR) of 14.3%. This surge during the forecasted period can be credited to the adoption of hybrid work models, the emphasis on employee well-being, resolving skills deficiencies and talent shortages, and integrating diversity, equity, and inclusion (DEI) strategies, and continuous performance management. Prominent trends expected during the forecast period encompass talent and internal mobility, prioritizing employee well-being and engagement, harmonization with the HR ecosystem, safety and compliance functionalities, succession planning and leadership growth, as well as amalgamation with HRIS and ERP systems.

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What Are the Different Talent Management Software Market Segments?
The talent management software market covered in this report is segmented -

1) By Component: Solution, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: SMEs, Large Enterprises
4) By Industry Vertical: BFSI, IT And Telecom, Manufacturing, Government, Healthcare, Education, Retail, Other Industry Verticals

Subsegments:
1) By Solution: Recruitment Management, Performance Management, Learning And Development, Compensation Management, Succession Planning, Workforce Planning
2) By Services: Consulting Services, Implementation Services, Training Services, Support And Maintenance Services

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What Are the Primary Drivers Shaping the Talent Management Software Market?
The rising popularity of social network sites is propelling the demand for talent management software in the future. Social network sites are web-based services that allow individuals to establish a public or partly public profile within a limited system, establish connections with other users, and explore their own connections as well as those made by other system users. Social media sites, in particular, serve as effective tools for enhancing an employer's brand and are used by employers to reach out to a large talent pool. For example, according to the University of Maine, an American public research institution, the number of worldwide social media users is 4.8 billion, with 150 million newcomers from April 2022 to April 2023-an average daily new user's count of 410,000 or 4.7 every second. Consequently, this increase in social network site usage will fuel the expansion of the talent management software market.

Which Companies Are Leading in the Talent Management Software Market?
Major companies operating in the talent management software market are Cornerstone OnDemand Inc., International Business Machines Corporation, Oracle Corporation, PeopleFluent Holdings Corp., Skillsoft Corporation, SAP SuccessFactors, TalentSoft SA, SumTotal Systems LLC, Workday Inc., TalentGuard Inc., Haufe Group GmbH & Co. KG, Ultimate Software Group Inc., PageUp People Limited, Automatic Data Processing Inc., Eightfold AI Inc., Deltek Inc., ClickUp Inc., Cornerstone Growth Acquisition Corp., Deel Technologies Inc., Dun & Bradstreet Corporation), Paycor Inc., Remo First Oy, Cegid Group SA, Rippling Inc., Sage HR

What Are the Major Trends Shaping the Talent Management Software Market?
The advent of technology is a critical trend that is gaining momentum in the talent management software market. Notable entities in this sector are concentrating on technological advancement to maintain their market position. For instance, in May 2024, as reported by ADP, an Indian service-based company, an integrated Talent Management Suite was introduced, with an objective to help corporations attract, develop, and retain top-tier talent through a comprehensive solution. This suite encompasses modules for talent acquisition, performance appraisal, reward management, succession handling, and learning oversight. The suite aims to enable smooth integration of different talent management processes to address the challenges companies undergo in managing their workforce efficiently. By employing sophisticated learning tools and knowledge provided by Bersin & Associates, ADP intends to elevate the overall strategy for managing human capital for its customers, thereby facilitating them to simplify processes and increase staff engagement and productivity.

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What Are the Top Revenue-Generating Geographies in the Talent Management Software Market?
North America was the largest region in the talent management software market share in 2024. The regions covered in the talent management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Talent Management Software Market?
2. What is the CAGR expected in the Talent Management Software Market?
3. What Are the Key Innovations Transforming the Talent Management Software Industry?
4. Which Region Is Leading the Talent Management Software Market?

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